This book introduces what might be called Lewis’s Law:
An economy prospers to the degree that a government does not interfere with, manipulate, or control prices.
Corollary:
The test that distinguishes good from bad government law and regulation of the economy is that bad government law and regulation interferes with, manipulates, or controls prices.
Brief explanation:
An economy is a trust system. It requires a modicum of honesty to survive and a great deal of honesty to thrive.
The Soviet Union fell because it would not allow prices to tell the truth about the economy. Why are we repeating the same mistake? Why won’t the US Federal Reserve allow truthful prices? Dishonest prices both impede recovery and feed economic and political corruption.
Hunter Lewis not only tells us what is wrong with our economy. He tells us what to do about it.
Free Prices Now! begins by asking why the human race is still so poor. How can it be that billions still lack even enough to eat? It then provides the answer. A prosperous society is a cooperative society. Cooperation in turn depends on trust. And trust requires honesty.
The most reliable barometer of economic honesty is to be found in prices. Honest prices, neither manipulated nor controlled, provide both investors and consumers with reliable economic signals. They are the foundation for a successful economy.
A corrupt econom...